LSV Asset Management Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

LSV Asset Management cut its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307,600 shares of the insurance provider's stock after selling 190,000 shares during the quarter. LSV Asset Management owned about 0.10% of Truist Financial worth $56,724,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after buying an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial in the 4th quarter worth about $45,000. City State Bank raised its position in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth approximately $55,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 0.2 %

NYSE TFC traded down $0.09 during trading hours on Wednesday, hitting $36.40. 5,006,928 shares of the company traded hands, compared to its average volume of 8,132,143. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a market capitalization of $47.52 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.63 and a beta of 0.91. The business's 50-day moving average is $41.90 and its 200-day moving average is $43.92. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.71%. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TFC shares. Stephens boosted their price objective on Truist Financial from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Barclays lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Citigroup dropped their price objective on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.22.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.